The Chief Executive Officer (CEO) of MASLOC, Hajia Abibata Shanni Mahama Zakariah, has reaffirmed the organization’s dedication to its goal of assisting in the advancement of micro business in the country.
In the Ashanti Region today, she made this statement during a group loan disbursement to 1,425 beneficiaries made up of (34) groups, each with 25 members to help sustain their small business while reassuring the beneficiaries gathered that government through MASLOC is still committed to the pro poor and the marginalized in the society.
She continued by saying that despite the nation’s ongoing economic problems, the organization has still been able to raise funds totally 1.7 million Ghana cedis to help small businesses and beneficiaries better their standard of living, further demonstrating its commitment to improving people’s lives.
In order to help beneficiaries, repay these loans, Hajia Abibata Shanni Mahama Zakariah stated that the institution has changed the payment tenure from six to twelve months in response to the prevailing economic climate she stressed.
Hajia Abibata Shanni Mahama Zakariah continued by stating that “The decision to start with the Ashanti Region in the disbursement of the group loans was as a result of the efficient repayment rate of beneficiaries and she will be encourage to consider reviewing further the individual amount from 2000 Ghana cedis to 5000 Ghana cedis if they are able to repay effectively and promptly all their scheduled disbursements as required.”
The CEO reaffirmed that MASLOC, as a critical institution, has been the foundation of Ghana’s socio-economic development over the past 16 years by giving loans to individuals and Small and Medium Enterprises (SMEs) so they can grow their business and improve their lives.
In its 16 years of existence, MASLOC has complimented governments’ efforts to adopt pro-poor programs aimed at eradicating poverty.